What are the advantages of using Excel Modelling?

Answer 1

Precisely MS Excel as a tool is used to solve all logical problems, being it arithmetic, algebraic, statistical, scientific, financial and logical statement based. Also a user have good handle to present the date in the way it is intended to.

Modeling of a problem in excel means - creating a generalized way of solving a problem. Modeling is different from solving problem for once as it is meant to be reusable, variables well defined to represent input and output, generalized and well explained, understandable to a general user ( of that domain).

So precisely Excel Modeling means:

1.creating a well structured model for a particular type or group of problems

2. It is reusable

3. It is generalized

4. Result /output is well structured

Answer 2

Excel is the leading spreadsheet product. The primary use for spreadsheets is arithmetic calculations on large sets of data. A minor use for spreadsheets is as a simple (flat, non-relational) database. Excel has a large selection of tools to manipulate and present data in useable formats - filtering, grouping, document linking, and advanced arithmetic functions. It is also highly customizable, and you can program functionality using macros. Using your data, you can build reports and graphs, which can be exported to other programs for presentations or printing.

Excel is at the top of the market for spreadsheets in terms of functionality. Other spreadsheets have less functionality.

Answer 3

1. Formulae can be used to instantly to recalculate totals.

2. The information can be presented in different ways.

3. You can carry out what if investigations.